BENEFITS OF MANAGEMENT INFORMATION SYSTEM

An efficient Management Information System has many advantages. Some of them are given below:

Management Information System quickly provides all sorts of information required for decision making at different levels of management.

In the process of capturing data forms, one may find gaps, incomplete and incorrect data. The same are likely to be rectified or completed or filled in the process.

Management Information System makes decision making easy, accurate and less risky.

Information flow from either direction is ensured and encouraged in the rank and file of managers.

Continuous monitoring and updating of information become imperative.

Greatly helps long range planning with accurate forecasting trend analyses and preplanning information in budget preparation. Even operations planning and tactical planning are provided with information inputs by MIS. Plan modelling (consisting of premising, identification and comparison of alternative courses of action) is greatly aided by MTS.

MIS plays a crucial role in controlling managerial operations, monitoring performance and decentralised decision making through performance report, break-even analysis, financial ratios, etc. It calculates variations between budgeted and actual results, triggers revised forecasts and acts as an early warning systems for monitoring activities. In other words, MIS provides for control of information which was not previously available and for information sharing across departments.

MIS helps planning additional new facilities.

By and large, MIS helps libraries in determining efficiency, effectiveness, competitiveness and performance, and facilitates collection of data, training and development of staff.